EXCHANGE RATES

Wanganui Chronicle, Volume 74, Issue 241, 12 October 1931, Page 9

EXCHANGE RATES

A REVISION TO-DAY NEW ZEALAND ON LONDON [ Per Press Asbociation. ] WELLINGTON, Oct. 10. The following rates of exchange, New Zealand on London, come into force on Monday, October 12:— Buying Selling Per £lOO Per £lOO London London £ s. d. £ s. d. Tele, transfers 110 0 0 108 10 0 On demand 109 10 0 108 8 0 3 days ■ — 0 108 0 0 30 days 109 5 0 107 10 0 60 days 109 0 0 107 0 0 90 days 108 15 0 106 10 0 120 days 0 Tho above alterations in the buying rates from those current when the banks closed for business to-day, represent a decline of 6d on three days, 2s 6d on 30 days, 5s on 60 days, 7s 6d on 90 days, and 10s on 120 days. The selling rates are unchanged. Tho alterations in the buying rates have been decided upon because of tho higher interest rates now ruling in London. AUSTRALIAN RATES NEW ZEALAND ON AUSTRALIA Buying per £lOO, New Zealand.— £ll9 7s 6d. Selling, per £lOO, New Zealand.— £llB 12s 6d. TO-DAY’S DOLLAR RATES Dollar exchanges as quoted by tho New Zealand banks to-day as given hereunder, with former rates for comparison, arc:— U.S. Dollars to £l. 7th Oct. 10th Oct. Buying 1 4.03 3.95 Selling 3.83 3.75 Canadian Dollars to £l. Buying 4.46 4.38 Selling 4.26 4.18 EXCHANGE AND DAIRY PRODUCE So far as the dairy export trade is concerned, Messrs A. H. Turnbull and Co. report that the exchange position is very unsettled and buyers are apparently a little nervous as to whether there will be any change in the rates between Now Zealand and London. As soon as the position in the United Kingdom has become stabilised it is expected that trading conditions will become more normal.